Malaysia Trade Surplus Highest Since November 2011

Malaysia reported a MYR 11.13 billion trade surplus in November of 2014 compared to a MYR 9.88 billion a year earlier as exports increased more than imports.

Year-on-year, exports rose 2.1 percent to MYR 63.7 billion in November supported mainly by rise in shipments of electrical and electronic products (+7.1 percent to MYR 23 billion and accounting for about 36 percent of total shipments). Exports of crude oil  (+12.5 percent to MYR 2.8 billion, 4.4 percent of total shipments), and timber and timber-based products (+2.7 percent to MYR 1.7 billion, 2.7 percent) also increased.

In contrast, exports declined for: petroleum products (-15.8 percent to MYR 3.8 billion, 6 percent of total shipments), liquefied natural gas (-7.3 percent to MYR 5.2 billion, 8.2 percent), palm oil and palm oil-based products (-7.2 percent to MYR 5.0 billion, 7.8 percent) and natural rubber (-56.8 percent to MYR 246.9 million, 0.4 percent of total exports).

By country, exports to Singapore rose the most (MYR 1.4 billion), followed by the United States (MYR 767.3 million), Japan (MYR 660.3 million), India (MYR 600.5 million) and Thailand (MYR 555.1 million).

Imports increased 0.1 percent to MYR 52.6 billion. Higher purchases were reported for: intermediate goods (+3.4 percent to MYR 31.4 billion, 59.7 percent of total imports) and capital goods (+ 6.3 percent to MYR 8 billion). While imports of capital goods excluding transport equipment increased by 8.4 percent, imports of transport and industrial equipment dropped by 5.5 percent. Shipments of  consumption goods declined by 1.7 percent to MYR 4.0 billion, 7.7 percent of total purchases).

By country, imports from the European Union rose the most (MYR 941.5 million) followed by Saudi Arabia (MYR 489.0 million), China (MYR 412.3 million), Kuwait (MYR 329.7 million) and Norway (MYR 302.1 million).

From January to November 2014, Malaysia's major trading partners were China (14.2 percent market share), followed by Singapore (13.5 percent), European Union (9.9 percent), Japan (9.5 percent) and the United States (8.0 percent).

Malaysia Trade Surplus Highest Since November 2011

Statistics Malaysia l Rida Husna l
1/7/2015 11:59:09 AM